Michael Jordan becomes special advisor to DraftKing’s board
Shares of fantasy sports company DraftKings (NASDAQ:DKNG) were trading up about 15% in the pre-market early Wednesday after the company announced that NBA legend and current Charlotte Hornets principal owner Michael Jordan would become a special advisor to the company’s board of directors.
DraftKings said that Mr. Jordan – an NBA Hall of Fame inductee, six-time NBA Finals MVP and Chairman of Hornets Sports & Entertainment – has agreed to take an equity interest in DraftKings in exchange for providing guidance and strategic advice to the board of directors on key business initiatives undertaken by the sports technology and entertainment company that went public earlier this year.
“Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” said Jason Robins, DraftKings co-founder and CEO. “The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team.”
As a special advisor, the company stated that Michael Jordan will provide strategic and creative input to the board of directors on company strategy, product development, diversity, equity and belonging, marketing activities and other key initiatives.
Jordan’s status as special advisor to DraftKings’ board of directors is effective immediately.
DraftKings was recently mentioned by activist investor Jason Ader as a potential acquirer of gaming technology company Playtech, which also owns Forex businesses TradeTech and Markets.com. Playtech is actively shopping TradeTech and Markets.com, as was first revealed by FNG.
DraftKings is a digital sports entertainment and gaming company created to fuel the competitive spirits of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator.